. A dot-com company ships products from three differentwarehouses (A, B, and C). Based on customer complaints,it appears that 1% of the shipments coming from A are somehow faulty, as are 4% of the shipments comingfrom B, and 3 % coming from C. Suppose a customer is mailed an order and calls in a complaint the next day.What is the probability the item came from Warehouse C?Assume that Warehouses A, B, and C ship 35%,15%, and50% of the dot-com's sales, respectively.

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Answered: A dot-com company ships products from…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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An insurance policy costs $120 and will pay policyholders $9,000 if they suffer a major injury (resulting in hospitalization) or $3000 if they suffer a minor injury (resulting in lost time from work). The company estimates that 1 in every 2088 policyholders will suffer a major injury and that 1 in 504 will suffer a minor injury. a) Create a probability model for the profit on a policy. b) What's the company's expected profit on the policy? c) What's the standard deviation? a) First find the probability and profit for each outcome. P(event) Profit no injury major injury minor injury (Round to six decimal places as needed.)
3. A retailer sells two brands of batteries that experience indicates are equal in demand. If he stocks two of each brand (which means he has 4 batteries in his store), what is the probability that a customer seeking to purchase two batteries, purchases the same brand? 1/3 2/3 01/2 1/4
Commercial fishermen in Alaska go into the Bering Sea to catch all they can of a particular species (salmon, herring, etc.) during a restricted season of a few weeks. The schools of fish move about in a way that is very difficult to predict, so the fishing in a particular spot might be excellent one day and terrible the next. The day-to-day records of catch size were used to discover that the probability of a good fishing day being followed by another good day is 0.5, by a medium day 0.3, and by a poor day 0.2. A medium day is most likely to be followed by another medium day, with a probability of 0.6, and equally like to be followed by a good or bad day. A bad day has a 0.3 probability of being followed by a good day, 0.2 of being followed by a medium day, and a 0.5 probability of being followed by another bad day. Construct a Markov chain model to describe the way the fishing days run. Referring to problem 1 in Chapter 2 (the fishing problem – reproduced below), calculate what you…
1. Researchers are interested in the relationship between vaping and upper respiratory infections. Suppose that 15% of their population of interest has vaped in the past year and 25% have had an upper respiratory infection in the past year. In addition, they know that 10% have both vaped and had an upper respiratory infection in the past year. What percent of the population has neither vaped nor had an upper respiratory infection in the past year? b. What is the probability of having an upper respiratory infection in the past year given that the person has vaped in the past year? What is the complement of the event in part b)? Be sure to interpret this probability in the context of the problem. a. C. d. What is the probability of having an upper respiratory infection in the past year given that the person has not vaped in the past year? Are the two events independent? Be sure to justify your answer. Based on your calculations what can you conclude about the relationship between vaping…
A company sends its products from 3 warehouses, namely from warehouse A=30%, warehouseB=20% and from warehouse C=50%. Based on complaints from customers, it is known thatthe percentage of defective products sent from each warehouse is as follows: A=3% , B= 5% and from warehouse C= 2%.a. Suppose a customer after ordering the product, the next dayComplained that the item was defective. What is the probability that the product receivedthe customer is from warehouse C? b. If another customer who also orders the product and getsthe goods are in good condition, what is the probability that the product received by the customerdoes it come from warehouse A?
section 5.5 A personnel director has two lists of applicants for jobs. List 1 contains names of 24 women and 8 men, whereas List 2 contains the names of 9 women and 16 men. A name is randomly selected from List 1 and added to List 2. A name is then randomly selected from the augmented List 2. Given that the name selected is that of a man, what is the probability that a woman's name was originally selected from List 1? Round your answer to four decimal places, if necessary.
9. A law firm employs three types of lawyers: junior lawyers, senior lawyers, and partners. During a given year, there is a 0.1 probability that a junior lawyer will be promoted to senior lawyer and a 0.05 probability that he or she will leave the firm. Also, there is a 0.2 probability that a senior lawyer will be promoted to partner and a 0.15 probability that he or she will leave the firm. There is a 0.03 probability that a partner will leave the firm. The firm never demotes a lawyer. th Let Xn be the status of an employee at the n' year after he or she has been hired, it could be one of the three types of lawyers (junior, senior, or partner) or two types of leaving (either leaving as a partner or leaving as a non-partner). Let state 0-junior, state 1-senior, state 2=partner, state 3= leave as non-partner, state 4= leave as partner The (one-step) transition matrix is P = 0.85 0 0 0 0 0.1 0 0.05 0.65 0.2 0.15 0 0.97 0 0 1 0 0 0 0 0 0 0.03 0 1 (a) Use the fundamental matrix method,…
4. Claire is considering investing in a new business. In the first year, there is a probability of 0.2 that the new business will lose $10,000, a probability of 0.4 that the new business will break even ($0 loss or gain), a probability of 0.3 that the new business will make $5,000 in profits, and a probability of 0.1 that the new business will make $8,000 in profits. a. Claire should invest in the company if she makes a profit. Should she invest? Explain using expected values. b. If Claire's initial investment is $1,200 and the expected value for the new business stays constant, how many years will it take for her to earn back her initial investment?
According to the Center for Disease Control and Prevention (CDC), up to 20% of Americans contract the influenza virus each year, and approximately 3% of all births in the United States result in birth defects each year. Consider two randomly selected Americans and assume that these two randomly selected Americans are independent of each other. The probability that neither of these two randomly selected Americans will contract the influenza virus in a given year is
An insurance company calculates car insurance company calculates car insurance premiums based on the age of the policyholder according to three age groups: Group A consists of drivers younger than 22 years old; Group B consists of drivers 22—33 years old, and Group C consists of drivers older than 33 years.Its portfolio consists of 10% Group A policyholders, 38% Group B policyholders and 52% Group C policyholders. The probability of a claim in any 12 month period for a policy belonging to Group A, B or C is 13%, 3% and 2%, respectively. (i) Calculate the probability that a randomly chosen policy holder from this portfolio will make a claim during a 12 month period. One of the company’s policyholders has just made a claim(ii) Calculate the probability that the policy holder is younger than 22 years.
An investment counselor calls with a hot stock tip. He believes that if the economy remains strong, the investment will result in a profit of $40,000. If the economy grows at a moderate pace, the investment will result in a profit of $20,000. However, if the economy goes into recession, the investment will result in a loss of $40,000. You contact an economist who believes there is a 20% probability the economy will remain strong, a 70% probability the economy will grow at a moderate pace, and a 10% probability the economy will slip into recession. What is the expected profit from this investment?

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